Vietnam, India seek to remove hurdles to bilateral trade

Wednesday, 2019-01-23 16:40:54
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The meeting between the two trade ministries of Vietnam and India. (Photo: Cong thuong)
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NDO - Vietnam’s Ministry of Industry and Trade and India’s Ministry of Commerce and Industry held a meeting on January 23 to discuss measures aimed at removing the obstacles facing trade and investment between the two countries.

The two sides also discussed directions and measures to bring the two economies closer together, thereby helping to expand the export markets of both countries and tap into each country’s strengths to meet the other’s needs.

Vietnamese Deputy Minister of Industry and Trade, Cao Quoc Hung, asked India to consider not imposing anti-subsidy duties on stainless steel and copper coils imported from Vietnam.

He also suggested that India issue an official document allowing the import of Vietnamese dragon fruit and accelerate the import approval of other fresh fruit such as longan, pomelo, rambutan and durian.

The Vietnamese trade official also expressed concern over India’s imposition of the minimum import price on Vietnamese pepper and requested that India promptly revoke the measure.

At the meeting, Hung also asked India to continue supporting Vietnamese trade promotion delegations, encourage Indian businesses to seek investment opportunities in Vietnam, and assist the Vietnamese carrier Vietjet to open direct routes between the two countries.

For his part, India’s Commerce Secretary Anup Wadhawan mentioned a number of issues that India is interested in such as the licensing of buffalo meat export to Vietnam.

In 2018 the trade value between Vietnam and India reached US$10.7 billion, up 39% from a year earlier, of which Vietnam exported US$6.5 billion, a year-on-year rise of 75%.